After excavating the sunken naval ship and examining the hull, South Koreans believe that an external explosion split the ship in two, killing many. South Korea's defense minister said this month the 1,200-tonne Cheonan may have been hit by a torpedo, immediately putting suspicion on North Korea and stoking concerns that the incident could start a conflict on the long divided peninsula.
The world and most South Koreans were hoping that they explosion was a technical failure, but after evidence on Thursday it seems that local media in Seoul is pinning the blame on the North. The fear is that this will trigger a major conflict with the North, besides this event relations have been soured since President Lee Myung-bak came to power in Seoul over two years ago, angering Pyongyang by ending the financial largesse that had for years been a lifeline for the broken North Korean economy
The North’s ambiguity has become a major issue for the South. Ratings agency Standard & Poor's said on Thursday it did not plan to raise the South's sovereign rating -- which would normally make it cheaper for South Korean borrowers overseas -- while risks involving Pyongyang's leadership persist.
The world and most South Koreans were hoping that they explosion was a technical failure, but after evidence on Thursday it seems that local media in Seoul is pinning the blame on the North. The fear is that this will trigger a major conflict with the North, besides this event relations have been soured since President Lee Myung-bak came to power in Seoul over two years ago, angering Pyongyang by ending the financial largesse that had for years been a lifeline for the broken North Korean economy
The North’s ambiguity has become a major issue for the South. Ratings agency Standard & Poor's said on Thursday it did not plan to raise the South's sovereign rating -- which would normally make it cheaper for South Korean borrowers overseas -- while risks involving Pyongyang's leadership persist.
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